Advanced Risk Management Strategies for Senior Risk Managers

Audit, Governance, and Risk

Unit Code
Level 5
Distance Learning
Class Room
Unit Code
Level 5
Distance Learning Fee
Face to Face Fee
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Total Fee £1600

£2360 (£1600 during the tuition waiver period)

Please see the Tuition Fee section to see if you are eligible for a scholarship.
Course Overview

The "Risk Management" module offers a comprehensive exploration of a critical process that holds immense significance for organisations in identifying, assessing, and effectively managing potential risks that could adversely affect their operations, financial stability, and reputation. Sound risk management practices form the bedrock of an organisation's long-term success, equipping businesses with the ability to make informed decisions, anticipate challenges, and proactively mitigate risks. Throughout this module, participants will delve into the fundamentals of risk management and its practical implementation within diverse organisational contexts. An in-depth examination of various risk types, encompassing financial, operational, and reputational risks, will be undertaken, emphasizing the utilization of multiple methods and tools to identify and manage risks proactively. Additionally, the module will explore the integral role of risk management in corporate governance and compliance, addressing the legal and ethical implications of ineffective risk management. By the conclusion of this module, learners will possess a comprehensive understanding of risk management strategies, empowering them to navigate complexities with confidence, ensuring the resilience and prosperity of their organisations in an ever-evolving business landscape.

Course Content

Introduction to the module

Introduction to Risk Management

  • Identifying Risk
  • Goals and Principles of Risk Management
  • Types of Risk
  • General Principles for Risk Management
  • Impacts of Risk

Risk Management Standards

  • Comparison of Various Methods for Dealing with Risk
  • COSO 2004 and Enterprise Risk Management (ERM)
  • Introduction to ISO 31000
  • Establishing a Risk Management Policy

Enterprise Risk Management (ERM) Core Ideas

  • Risk Assessment Considerations
  • Types of Risk Classification Systems
  • Risk Identification
  • Risk Causes and Sources
  • Consequences of Risk

Risk Assessment and Evaluation

  • Risk Analysis
  • Risk Likelihood and Impact
  • Loss Control
  • Defining the Upside of Risk
  • Risk Appetite
  • Risk Evaluation
  • Risk Treatment and Response Approaches

Risk Control Techniques

  • Risk Monitoring and Review
  • Insurance and Risk Transfer
  • Business Continuity Planning (BCP)
  • Risk Control Techniques (PCDD)
  • Control of Selected Hazard Risks

Risk Response and Mitigation Strategies

  • Risk Response Planning
  • Cost-Benefit Analysis
  • Risk Prioritization Techniques

Business Continuity Planning (BCP)

  • Importance of BCP
  • Key elements of BCP
  • Developing and Implementing a BCP

Risk Management and organisational Culture

  • Role Of Organisational Culture in Risk Management
  • Building A Culture of Risk Management
  • Risk Management as A Continuous Process
Learning Outcome & Assessment Criteria

1.  Explain where the idea of risk management came from and some of its most essential concepts

  1. Explain risk management-related terminology.
  2. Analyse possible impacts of different types of risk on organisations
  3. Distinguish between different types of risk

2.  Understand the risk management standards and be able to compare and contrast them

  1. Describe and apply basic principles of risk management in a real-life context
  2. Explain the components and tools for risk management in COSO 2004 and ISO31000
  3. Compare and contrast the COSO and ISO frameworks for risk management
  4. Apply and implement the  Enterprise Risk Management  frameworks in a real-life context

3.  Describe in broad and conceptualise the core ideas behind enterprise risk management

  1. Assess and identify types of risk and factors involved in each risk
  2. Examine possible root causes and sources of risk in organisations
  3. Determine possible consequences of risk if it is not mitigated in time

4.  Describe the primary methods used to identify risks, conduct risk assessments, and evaluate risks and control approaches

  1. Illustrate the understanding and capability to apply risk analysis and relevant theories
  2. Design and create a sustainable development plan by allowing some risk appetite
  3. Apply risk treatment and response approaches to solve crises and manage risk
  • The assessment strategy for this course is designed to test all the learning outcomes.
  • Learners must demonstrate successful achievement of all learning outcomes to pass the course.
Assessment Marking Criteria


Citizens of the following countries are eligible for a 50% scholarship upon writing a personal statement. All scholarships are to be approved by the Academic Board. The list of countries are: Sri Lanka, Indonesia, Philippines, Bhutan, Morocco, Vietnam, Papua New Guinea, Laos, Cambodia, India, Nigeria, Ghana, Bangladesh, Laos, Myanmar, Pakistan, Nepal and South Africa. Please talk to your student counselor and ask for the Coupon Code to get the 50% Tuition Waiver.

  • The assessment criteria for a pass will be presented with the summative exercise.
  • Further information and guidance on the assessment will be made available through the tutor.
Unit Pass Requirements

To pass the unit a 40% overall grade must be achieved.

Frequently Asked Questions
What is included in the cost of my programme?
  • All course material, including online modules and written assignments
  • Unlimited personal tutor support with online sessions
  • Dedicated student support
  • Access to an online community learning forums
  • Assignment marking and feedback
Am I eligible for this programme?

You are eligible if you meet our stipulated entry requirements.

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